Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
NORRIS PAUL J
   2. Issuer Name and Ticker or Trading Symbol
W R GRACE & CO [GRA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O W.R. GRACE & CO, 7500 GRACE DR		 3. Date of Earliest Transaction (Month/Day/Year)
12/17/2007
(Street)

COLUMBIA, MD 21044		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.01 per share (1) 12/17/2007   M   400,000 (2) A $ 16.75 538,822 D  
Common Stock, par value $0.01 per share (1) 12/17/2007   S   400,000 (2) D $ 24.2588 (3) 138,822 D  
Common Stock, par value $0.01 per share (1) 12/18/2007   M   39,026 (2) A $ 16.75 177,848 D  
Common Stock, par value $0.01 per share (1) 12/18/2007   M   315,000 (2) A $ 13.4688 492,848 D  
Common Stock, par value $0.01 per share (1) 12/18/2007   M   227,774 (2) A $ 12.8125 720,622 D  
Common Stock, par value $0.01 per share (1) 12/18/2007   S   581,800 (2) D $ 23.3933 (3) 138,822 D  
Common Stock, par value $0.01 per share 12/17/2007   M   400,000 (2) A $ 10.25 538,822 D  
Common Stock, par value $0.01 per share 12/17/2007   D   400,000 (2) D $ 16.75 138,822 D  
Common Stock, par value $0.01 per share 12/18/2007   M   39,026 (2) A $ 10.25 177,848 D  
Common Stock, par value $0.01 per share 12/18/2007   D   39,026 (2) D $ 16.75 138,822 D  
Common Stock, par value $0.01 per share (1) 12/19/2007   M   62,226 (2) A $ 12.8125 201,848 D  
Common Stock, par value $0.01 per share (1) 12/19/2007   M   121,000 (2) A $ 2.4 322,048 D  
Common Stock, par value $0.01 per share (1) 12/19/2007   S   183,226 (2) D $ 23.4695 (3) 138,822 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options (rights to buy) $ 16.75 12/17/2007   M     400,000 (2) 11/01/2001 05/31/2008 Common Stock 400,000 $ 0 39,026 D  
Employee Stock Options (rights to buy) $ 16.75 12/18/2007   M     39,026 (2) 11/01/2001 05/31/2008 Common Stock 39,026 (2) $ 0 0 D  
Employee Stock Options (rights to buy) $ 13.4688 12/18/2007   M     315,000 (2) 05/10/2003 05/31/2008 Common Stock 315,000 $ 0 0 D  
Employee Stock Options (rights to buy) $ 12.8125 12/18/2007   M     227,774 (2) 03/04/2002 05/31/2008 Common Stock 227,774 $ 0 62,226 D  
Employee Stock Options (rights to buy) $ 12.8125 12/19/2007   M     62,226 (2) 03/04/2002 05/31/2008 Common Stock 62,226 $ 0 0 D  
Employee Stock Options (rights to buy) $ 2.4 12/19/2007   M     121,000 (2) 03/08/2004 05/31/2008 Common Stock 121,000 $ 0 0 D  
Stock Appreciation Right (4) $ 10.25 12/17/2007   M     400,000 (2) 11/01/2001 05/31/2008 Common Stock 400,000 $ 0 39,026 D  
Stock Appreciation Right (4) $ 10.25 12/18/2007   M     39,026 (2) 11/01/2001 05/31/2008 Common Stock 39,026 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
NORRIS PAUL J
C/O W.R. GRACE & CO
7500 GRACE DR
COLUMBIA, MD 21044		   X      

Signatures

 Michael W. Conron, Attorney-in-Fact   12/19/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Each share of Common Stock also represents one Preferred Share Purchase Right. Each such Right entitles the holder to purchase Preferred Stock or other securities or property upon the occurrence of certain events and subject to certain conditions.
(2) Exercise and Sale Pursuant to Rule 10b5-1 Trading Plan adopted May 2007 for options expiring May 31, 2008.
(3) Price constitutes weighted average price of trades by the Reporting Person in the open market on the date indicated. Sale prices on 12/17/07 ranged from $23.53 to $25.35. Sale prices on 12/18/07 ranged from $23.00 to $23.91. Sale prices on 12/19/07 ranged from $23.01 to $23.69.
(4) Because the price per share of Grace Common Stock exceeded $16.75 on the date of exercise of the Stock Appreciation Right, the Stock Appreciation Right constitutes right to a payment equal to the product of the number of shares exercised multiplied by $6.50.

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